In what circumstances will a vendor be able to claim damages from a purchaser who has refused to complete an interim agreement?
British Columbia, Canada
The following excerpt is from Bains & Sarai Holdings Ltd. v. Sahota, 1985 CanLII 463 (BC CA):
In Clendening v. Cedarhurst Properties Ltd. (1977), 31.B.C.L.R. 153, McFarlane J.A. delivered the judgment of this court. He indicated that in these circumstances the vendor has three courses open where the purchaser refused to complete an interim agreement. The vendor may sue for specific performance, or may accept the purchaser’s repudiation and sue for damages at common law, or the vendor may exercise his option given by the contract to cancel the contract and keep the deposit as liquidated damages.
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